The property is located near the junction of Lauriston Street on the north side of Bread Street between the junctions of Spittal Street and Lady Lawson Street, Bread street continues on to West Port and Grassmarket.
The area is a short walk from popular tourist destinations such as the Grassmarket and it is only a 5-10 minute walk to Edinburgh's principle retail shops on George Street and Princes Street.
The immediate area offers a range of excellent amenities including a Sainsbury's Local, Odeon cinema and a number of bars and coffee shops on nearby Lothian Road and West Port. The Hilton's Double Tree hotel is close to the subjects.
The area benefits from excellent transport links with regular bus links serving the city centre. In addition, both Haymarket and Waverley train stations are only a short distance from this location. The nearest tram stop is at Shandwick Place.
The subjects, currently trading as Luca’s Fish and Chip Shop, comprise a treble windowed unit configured over ground and basement and forming part of a stone-built tenement.
Internally, the subjects comprise of a bright and nicely decorated customer waiting area with a staff counter to the front right of the shop. The left-hand side is the seating/dining area. The kitchen is fully fitted to a very high standard to suit the current occupiers, the unit would suit a variety of cuisines, especially given its highly popular location for tourists and nightlife. The WC’s are to the rear of the ground floor to the left along with kitchen and prep areas to the right.
The subjects also benefit from an extensive basement which provides excellent storage.
According to our recent measurement survey the premises contain the following approximate net internal area:
Ground floor: 111 SQ M (1,194 SQ FT)
Basement: 74 SQ M (799 SQ FT)
RENT AND PREMIUM
The passing rent is £32,400 per annum exclusive.
Offers in the region of a £40,000 premium are sought to purchase the leasehold.
The subjects are held on an FRI leasehold basis at the moment.
The landlord is willing to grant a new FRI lease for a term to be agreed.
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £22,190. The uniform business rate for the current year is £0.466 pence in the pound.
Occupiers may be eligible for rates relief through the small business bonus scheme if the combined rateable value of all their business premises in Scotland is £35,000 or less.
The premises is served by mains electricity, gas and water.
ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Certificate rating is Pending.
A copy of the recommendation report is available on request.
Each party shall bear their own legal costs in the with the eventual tenant liable for any Registration Dues or LBTT thereon.
Upon completion of a formal missive under Scots Law.
VIEWING AND FURTHER INFORMATION
By appointment through the sole letting agent, IME Property Ltd.